Wall Street Journal: SunEdison’s TerraForm Power and TerraForm Global Explore Sale
TerraForm Global Inc. and TerraForm Power Inc. said Monday they are considering selling themselves, as the sister companies face trouble due to the bankruptcy of parent company SunEdison Inc.
The two companies own major wind and solar power projects developed by SunEdison, which filed for Chapter 11 bankruptcy protection in April. SunEdison launched the sister companies into the public stock market in 2014 and 2015, respectively, and is considering selling its controlling stakes in the sister companies.
The TerraForm companies were a central element of the financial engineering that fueled SunEdison’s fast growth.
Reuters: Tesla Says Lawsuits May Delay SolarCity Deal
Tesla Motors Inc. said on Monday its proposed acquisition of SolarCity Corp (SCTY.O) could be delayed because of shareholder lawsuits alleging board members breached their fiduciary duty, the latest hurdle to a $2.6 billion deal.
The four lawsuits were filed by two individuals, a police pension fund, and a group of retirement funds, according to a regulatory filing by Tesla on Monday.
If a judge grants any of the plaintiffs an injunction, the closing of the deal could be delayed beyond the end of the year when it had been expected, Tesla said. A hearing is scheduled on Oct. 18 in Delaware.
Climate Home: Trump Threat Looms Over New York Climate Week
Barring the most colorful expletives, there are two words you’re unlikely to hear at Climate Week in New York: Donald Trump.
Inside the sophisticated cool of the New York Times building off 8th Avenue, business leaders and politicians addressing the CWNYC launch party oozed determination and optimism.
Perhaps that’s no surprise, given the event was boldly titled “America Means Business: U.S. Leadership in a Post-Paris World."
But reading between the lines -- and reading their comments a second time -- there’s an unspoken fear of the momentum gained by the U.N.’s new Paris Agreement on climate change being Trumped.
9 to 5 Mac: Apple Pledges 100% Renewable Energy at Climate Week
As its efforts to switch to renewables continue, Apple today announced that it is joining the global renewable energy initiative RE100. In joining the program, Apple will continue to work on its commitment of powering its worldwide operations with 100 percent renewable. As part of the process, Apple will work with its manufacturing supply chain to push clean energy usage in that area, as well.
Apple’s vice president for environment, policy, and social initiatives Lisa Jackson made the announcement today while speaking at Climate Week in New York City. Jackson reaffirmed Apple’s commitment to running on 100 percent renewable energy worldwide. In joining RE100, Apple will be better able to advocate that other companies work toward using 100 percent renewable energy.
Renewable Energy Focus: GE’s Digital Wind Farm Technology to Help Aging Wind Plants in Japan
GE Renewable Energy has announced it has secured five-year Digital Wind Farm services contracts for two aging wind farms in central Japan.
Kinden Corporation’s 30 MW Shirama wind farm, a seven-year-old project near Osaka, expects the digital solution will increase the site’s annual energy production by up to 5 percent. A second contract, signed with Kandenko, is expected to deliver up to 2 percent higher AEP for the 22 MW Chosi project, a 12-year-old wind farm near Tokyo.